Ideas, please help. Running out of hope fast.

KirstyO

right....any ideas from looking at this?

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 910
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 910

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 300
Management charge (leasehold property).. 0
Council tax............................. 75
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 0
Mobile phone............................ 25
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 80
Clothing................................ 10
Petrol/diesel........................... 50
Road tax................................ 10
Car Insurance........................... 61
Car maintenance (including MOT)......... 5
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 5
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 5
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 783


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 1000

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
cc1............................1168......30........29.9
cc2............................660.......20........1.99
argos..........................169.......6.........29.9
o/d2...........................285.......30........19.9
o/d1...........................1500......20........2.5
Total unsecured debts..........3782......106.......-


Monthly Budget Summary
Total monthly income.................... 910
Expenses (including HP & secured debts). 783
Available for debt repayments........... 127
Monthly UNsecured debt repayments....... 106
Amount left after debt repayments....... 21

Personal Balance Sheet Summary
Total assets (things you own)........... 1,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -3,782
Net Assets.............................. -2,782

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

Poosmate

KirstyO wrote: »

right....any ideas from looking at this?

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 910
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 910

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 300
Management charge (leasehold property).. 0
Council tax............................. 75 Does this include arrears and single person discount?
Electricity............................. 40 See below
Gas..................................... 40 These look high. Check you're on the best tariff and use a cashback site to change supplier. Plus reduce consumption.
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 0
Mobile phone............................ 25 Reduce contract or go PAYG when out of contract.
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 80
Clothing................................ 10
Petrol/diesel........................... 50 *
Road tax................................ 10 *
Car Insurance........................... 61 *
Car maintenance (including MOT)......... 5 *
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 5
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 5
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 783


Assets
Cash.................................... 0 Have you started putting your £10 away yet? You must do this.
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1000 *
Other assets............................ 0
Total Assets............................ 1000

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
cc1............................1168......30........29.9
cc2............................660.......20........1.99
argos..........................169.......6.........29.9
o/d2...........................285.......30........19.9
o/d1...........................1500......20........2.5
Total unsecured debts..........3782......106.......-
£106 - is this the figure you will be paying your DMP?


Monthly Budget Summary
Total monthly income.................... 910
Expenses (including HP & secured debts). 783
Available for debt repayments........... 127
Monthly UNsecured debt repayments....... 106
Amount left after debt repayments....... 21 Bet you don't really have this left at the end of the month! At least it's not showing a deficit though!

Personal Balance Sheet Summary
Total assets (things you own)........... 1,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -3,782
Net Assets.............................. -2,782

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

Hi Kirsty and welcome to DFWland.

Are you now in your own place or still house-sharing?

I'll assume own place now.

Made a few comments in blue in case you didn't notice.

Gas/Elec look quite high. I have a 2 bed semi and I pay about £25 each (mind you my emersion tank doesn't work and my oven blew up). I microwave a lot of food or BBQ or eat out (supermarket cafe or family). Make sure all of your bulbs in your new place are energy saving. Make sure you turn everything OFF - don't leave on standby.

Mobile phone: If you are still in contract try to reduce the tariff. Alternatively get a BT line - I pay £12 pm and get evening and w/e calls for free, I can't remember the last time I paid for a call on my land line.

Your car: Probably not what you want to hear but, it's costing you over £120 per month and for what looks like relatively low mileage. Could you use public transport?

If you sold your car think about what you could do with the money. If you only paid off Argos and o/d2 it would free up £36 pcm which you could use to pay extra off CC1, reducing the debt much quicker and paying less interest. Alternatively, you could save this cash (if you are already on a DMP as most of the interest will hopefully be frozen), and maybe in about 6 months time you'll have enough saved to offer full and final settlements.

Don't forget you'd be saving £60 (budget say £60 for other transport, bus pass, taxi's) per month by not having a car.

You could have £500 left from the proceeds of the car, £60 less on transport, £36 less debt repayments, plus your £10 emergency fund. Work it out (!Yay!) you have £500 banked and £100 to add to it each month.

Hope that helps, good luck,

Poo

KirstyO

Thanks for looking at that, Poo. I am reluctant to get rid of my car purely because I live a long distance from my family, and if I need to get home at short notice/any time of day or night then it's there. It's a lame excuse I know, but seeing as my parents gave me the car in the first place for that very reason, it seems a tad ungrateful to sell it off just yet. If I can get through this debt business then I'll consider saving and selling it to go towards a new motor.

As far as the house thing goes...I'm still in the shared place, I'm making a phone call today to find out if I can stay here on my own. Parents have kindly agreed to top up rent until I'm in a better position to move. Once housemate has gone, bills will go down dramatically. He has only worked about three weeks out of the last four months, so spent a LOT of time at home with heating on etc. He claims he has paid extra bills money to cover it. Seeing as I deal with the bills, I know that he's only given me an extra £30 on one occaision. Speaking of which he also owes me an extra £55 for furniture that he's buying off me to take with him....thanks for triggering that

Also I'm off work this week and having a proper sort out ready for him moving or both of us moving. This should let me see things I could potentially sell (car boot on Sat or ebay).